Daily Gold Eagle Update

June 11, 2009 – Gold Eagle bullion coins are increasing in value today as the United States Dollar edges down versus other major currencies, thus continuing the powerful negative correlation between the dollar and gold. Rising US bond yields is creating concerns about spiking debt, which in turn has created significant speculation that other nations will begin flocking away from dollar-backed assets down the road. The United States is currently in a very dangerous economic situation, and many market analysts along with financial institutions are saying that this may not end until our massive debt is repaid. In other news, inflationary pressures are on the rise yet again as the latest economic data is showing signs of higher than expected inflation, which should come as no surprise, especially since the US Government has done nearly everything to devalue the dollar in the past two years. It’s quite humorous that the Federal Reserve is mentioning that our economic slump may be coming to an end, with unemployment reaching 10% and major banks and corporations failing across the nation. It looks like we’re headed in the right direction. Fortunately, gold Eagle bullion coins have protected investors in the past during similar dangerous times.

By around 2:15 PM Eastern Standard Time, gold Eagle bullion coins are increasing in value after some minor setbacks that had brought the spot price down nearly $30 from last week’s peak of $980 per ounce, and currently the spot price is climbing to around $957.90 per ounce, increasing .40% for the day and also increasing 3.79% in the last month.

Daily Updates Archive

Joshua Harris

Senior Staff Writer - Gold-Eagle.org